Nifty made new life high today @ 8866 with another DOJI candlestick formation, as per my perceptive last rally we saw from 7723 to 8627 was 904 points long and took 33 days to complete, the current rally which started from 7961 till 8866 is now 905 points which is equal to last rally and consumed 27 days and also the maximum rally we have seen in 1041 points so still there is room for upside. Nifty is trading well above its 34 HEMA@ 8774 so till its held bulls are in control. But one caution sign is momentum has slowed down considerably in past 3 session Reduction in the same exhibits alarming signal which warns that the current trend is into its last stages and it’s the time to pack up the profits.Also max correction we have seen is 88 points so if pullback in this range use this to buy. As i always say do not try to pick tops and bottom, go with the trend. As Monday is trading holiday and Greece election results on weekend so expect another gap up/gap down opening on Tuesday.

Nifty Future Jan Open Interest Volume is at 2.27 core with addition of 0.98 lakh in OI, fresh long addition seen.

9000 CE OI at 43.9 lakh so wall of resistance @ 9000 .8400/8700 CE saw huge liquidation of 21.8 lakhs so bears continued with their covering of Calls. FII bought 9.9 K CE and 25.2 K CE were shorted by them.FII’s have started shorting CE so cautious on longs.

Excellent analysis. I have one doubt . How can I find huge short positions (by fii’s or professional traders) in options .Will VWAP reflect it. Pl, guide me. That’ll use to find the trend of stocks or indices.. Thanks in advance…